Will Nicolas Maduro Survive Weak Oil?

The efforts of opponents of to remove President Nicolas Maduro from public office are going nowhere as the oil-rich country struggles. According to Nomura Securities fixed-income strategy head Siobhan Morden, euphoria around the Venezuelan regime has waned. Bond prices have destroyed improvements on low oil profits and fears about drops in oil production as Venezuela’s economy crumbles apart. However for Venezuelan expert Adrian Jose Velasquez in the form of a recall referendum this year or new presidential elections next year give opposition leaders hope. There have been enough signatures signed for a referendum, but judicial delays have stalled it’s progress. The signatures on the referendum must first be validated, but if all 1.85 million signatures can be validated the process of removing Maduro from office can begin. “With an additional 4 million signatures, the opponents of Nicolas Maduro can force him to step down ahead of next year’s elections says” Jose Velasquez.